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Honorarium

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Dictionary Says

Definition of 'Honorarium'

A voluntary payment that is given to a person for services for which fees are not legally or traditionally required. Honoraria are typically used to help cover costs for volunteers or guest speakers.

Investopedia Says

Investopedia explains 'Honorarium'

For example, when a guest makes a speech at a conference, he or she might receive an honorarium to cover travel expenses. In some countries, the honorarium may be considered taxable income.

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